Investments (Tables)

9 Months Ended

Sep. 30, 2024

Investments [Abstract]

Schedule of Investment Securities Stated at Fair Value

Assets or liabilities that have recurring fair value measurements are shown below as of September 30, 2024 and December 31, 2023:

As of September 30, 2024:

			Fair Value Measurements at Reporting Date Using
	Total as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	September 30, 2024		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	179,639,743	$	179,639,743	$	—	$	—
Short-Term Investments:
Asset-backed Securities	2,784,681		—		2,784,681		—
Certificate of Deposit	752,133		752,133		—		—
Corporate Bonds	3,960,920		—		3,960,920		—
Government Securities	2,479,975		—		2,479,975		—
Municipal Bonds	4,380,400		—		4,380,400		—
Other	1,073,419		1,073,419		—		—
Long-Term Investments:
Asset-backed Securities	40,069,030		—		40,069,030		—
Corporate Bonds	57,754,563		—		57,754,563		—
Government Securities	1,671,215		—		1,671,215		—
Municipal Bonds	41,083,645		—		41,083,645		—
Common Stock	41,109,820		41,109,820		—		—
Total	$	376,759,544	$	222,575,115	$	154,184,429	$	—

As of December 31, 2023:

			Fair Value Measurements at Reporting Date Using
	Total as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	December 31, 2023		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	226,435,019	$	226,435,019	$	—	$	—
Short-Term Investments:
Certificate of Deposit	994,013		994,013		—		—
Corporate Bonds	1,943,886		—		1,943,886		—
Government Securities	4,759,507		—		4,759,507		—
Municipal Bonds	1,726,658		—		1,726,658		—
Other	1,465,388		1,465,388		—		—
Long-Term Investments:
Asset-backed Securities	27,146,504		—		27,146,504		—
Certificate of Deposit	748,358		748,358		—		—
Corporate Bonds	65,404,340		—		65,404,340		—
Governmental Securities	6,227,129		—		6,227,129		—
Municipal Bonds	56,336,921		—		56,336,921
Common Stock	18,610,519		18,610,519		—		—
Total	$	411,798,242	$	248,253,297	$	163,544,945	$	—

Schedule of Amortized Cost, Unrealized Gains and Losses, and Market Value of Investment Securities

The amortized cost, unrealized gains and losses, and market value of investment securities are shown as of September 30, 2024 and December 31, 2023:

As of September 30, 2024:

			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Asset-backed Securities	2,834,713		—		(50,032)		2,784,681
Certificate of Deposit	$	750,000	$	2,133	$	—	$	752,133
Corporate Bonds	4,019,696		—		(58,776)		3,960,920
Government Securities	2,474,160		5,815		—		2,479,975
Municipal Bonds	4,393,568		1,697		(14,865)		4,380,400
Other	1,073,419		—		—		1,073,419
Long-Term Investments:
Asset-backed Securities	39,109,728		1,032,389		(73,087)		40,069,030
Corporate Bonds	56,889,910		1,273,030		(408,377)		57,754,563
Government Securities	1,603,846		67,369		—		1,671,215
Municipal Bonds	41,175,200		918,479		(1,010,034)		41,083,645
Total	$	151,489,527	$	3,300,912	$	(1,565,139)	$	153,225,300

As of December 31, 2023:    

			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,000,000	$	—	$	(5,987)	$	994,013
Corporate Bonds	1,976,195		—		(32,309)		1,943,886
Government Securities	4,754,495		21,141		(16,129)		4,759,507
Municipal Bonds	1,749,038		—		(22,380)		1,726,658
Other	1,465,388		—		—		1,465,388
Long-Term Investments:
Asset-backed Securities	26,923,803		331,847		(109,146)		27,146,504
Certificate of Deposit	750,000		—		(1,642)		748,358
Corporate Bonds	66,214,398		748,471		(1,558,529)		65,404,340
Government Securities	6,217,774		10,675		(1,320)		6,227,129
Municipal Bonds	58,261,615		811,128		(2,735,822)		56,336,921
Common Stock	17,324,886		1,328,446		(42,813)		18,610,519
Total	$	186,637,592	$	3,251,708	$	(4,526,077)	$	185,363,223

Schedule of Unrealized Loss on available-for-sale securities

Unrealized losses on available-for-sale securities as of September 30, 2024, are as follows:

	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	80,165	$	7,363,296
Loss duration of greater than one year	1,535,006		46,320,380
Total	$	1,615,171	$	53,683,676

Unrealized losses on available-for-sale securities as of December 31, 2023, are as follows:

	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	126,074	$	13,449,592
Loss duration of greater than one year	4,400,003		76,966,258
Total	$	4,526,077	$	90,415,850

Schedule of Investments Classified by Contractual Maturity Date

Fixed income securities as of September 30, 2024 have contractual maturities as follows:

Due within one year	$	14,358,108
Due between one and five years	76,534,624
Due over five years	64,043,830
	$	154,936,562